Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1887-12-09

calls attention to the"faCt that to pur-
chase bonds not vet due large premiums
must be paid and that n large amount of
such bonds being held as Investments, can
not be secured at any price, while ANY
clique or combination wiling to sell these
houds, can withhold them and thus en-
hance their value unreasunaDly in their
| cost to the government.
rur ,pt.,.>.r,v, s,rrr,tr
1t has been suggested, he continues,
| that the present bonded debt might be
rafunded at a loss rate of interest and the
,.,r,,s.. -, 49,, o1d a,d nan. 60
ull'elence oe'"een VIC Wv, ",i'' io"
curlty pald IN cash. IhuS Hhulhs use lor
/ 0f his uIan wo,ild deuend mon the v0li-
ton OF the holders OF the present bonds
ahd II Is h9t cerIl ,ilaV tme iIu,ceneH, moe,,I 1T
Whlcn III gnI ne oIIgreu Houl, avS,,,t ~
more Hiailclal oelleill ~ ,nS SUnStii'isLu Nv
man Inan Ii.e PutCna9T ~, ttle
| l|oltIi 80 ,aT p -; -,
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ne ptoposltlum 70 uttoIto ine IllontS
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ouu tu9 Iouu'n! IT, - ~ .iio HiGol'Iu :,
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+ ,,,, P ~ L
,',,g, of tba cnnntrv th,,s fostarit,f, an nm.
| natural reliance in private business upon
! pupic Luhus; 0uCh scnehle, however
/ IlIE!I ne 7nopteu "S u eHPotdlS cape
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@ @oul peoPie ollH @ wy nlSn anu "eIeIIcen'
pun pO9e9 vi o"I governments
THE FINANCIAL SITUATION.
The president calls attention OECe more
to the gravity of the financial situation
and 70 past failures by Congress ia pro
vide relief, and he declares that il disaster
results from the continued nOn-aCtion OF
Congress on this respect, the respOus bility
shall rest where it belongs. Although
! there is great danger in the situation. il
has been produced by entirely pdlp4ble
| causes, i. e., a cOngested treasury and a
| depleted monetary condition i'll the busi-
ness Of the country. The only manner
in which we can be saved from similar
predicaments in the future will be by a
removal of the causes
4
-''- --' l.
The president says that there seems to
be no complaint Of the internal revenue
tax upon spirltuous and malt liquors and
tobacco by the consumers OF those articles
rs they are not neceSsarieS, but our present
tariff laws, by which the needless surplus
Is taken from the people and put in the
treasury, the vicious, inequltaDle, and
illogical source of unnecessary taxation
should at once be revised and amended,
These laws raise the ptice to consumers
of all articles imported and subject to
duty by precisely the sum paid fOr such
duties, Many Of these imported articles,
, or,, @ HO ~
upon such foreign goods is called protec
tion to the home manufacturers, because
they render it possible for those of ON
people who are manufacturers to make
these taxed articles and sell them for a
price equal to that demanded for the i'm
ported goods that have paid customs du
ties. So it happens that while compare
lively few use the imported articles, mil
lions of our people purchase and use
things OF the same kind made in this coun
trys aud pay therefor nearly or quite
the same enhanced price which the duty
adds to the imported articles. Those who
buy imports pay he duties charged there
on into the public treasury, but the great
majority of our citizens who buy domes
tic articles of the same class pay a sum an
prOXimately equal to this duty to Tie
rei,ayd tba non,'tr of ~, p,VPO9e" !,
must be continued extensively as The
source of the governments income and in
IA read just ment of cur tariff the intere sts
of American labor engaged in manufac
lures must be carefully considered as wei
as the preservation of our manufactures
1t may be called protection or by any otheI
name but relief from hqrdship5 and dan
, gers OF our present tariff laws should b,
devised with especial precaution agans
imperiliug the existence of our manufac
turing interests.
NprD ,,r. r.,,,,,,. ,,,,.,.,o>.
Nh''" VI amir III i9'oN'
Referring to the continued opposition t,
a revision OF the tariff the president say
That those engaged can hardly cOmplail
OF suspicion entertained to certain eX
tent that there exists an organized comb
e nation all along the line to maintain tn
e advantages they. derive under existing
Z laws. The president refers to the growth
ana prosperity OF our national industrie
ana the Dement'S derived by the manufaC